Fed’s Collins: The Fed will need to hold steady for longer

During an interview with Yahoo Finance on Friday, Federal Reserve Bank of Boston President Susan Collins noted that even amidst intense pressure, financial markets seem to be weathering the storm.

Key Quotes

• We came into first quarter with solid economic conditions.
• Markets continue to function well.
• Tariffs will push up inflation pressures.
• Tariff announcements are very significant.
• China trade issues are very big for economy.
• Hard to invest in times of big uncertainty.
• Current slate of tariffs are very high.
• Modal view is for slower growth, not a downturn.
• Financial market movements bear focusing on.
• Won't rule out a downturn.
• Hard to say when tariffs will impact inflation.
• Would expect inflation 'well over' 3% this year due to tariffs.
• Sees mixed bag on longer run inflation expectations.
• At this point expectation is fed will need to hold steady for longer.